Steven Cohen's trading results
- Thread starter Trend Fader
- Start date
Its not misleading.. it makes clear sense.. and is the way pro trading should be done. You will have small gains, small losses, and big winners. You can twist and bend it any way u want.. but the big winners is what will make you the money at the end of the year... not the consistency of making small profits.
You keep on saying that "if" everyone cut losses short.. "if" everyone did this.. "if" everyone did that... but there is no such thing as eveyone doing the same thing.. so what is your point! Look at stocks like IPS, MON.. u will se a nice trend upwards the past 2 years.. why do u say that stocks are choppier then they used to be? Look at the dailys of 2004 for stocks that had the greatest rise over $50 with over 100k shares traded on average.. u will see so many nice trends that you wish you would of traded.
The key word is that you are another futures newbie. After 1 year trading them.. i would like to see your final p&l... what u think is not as relevant as your p&l. Dont want to sound rude.. but I have been there done that.. and so have almost all the other traders i speak to.
--MIKE
If there is one little hole to find an edge in trading futures intraday.. it already would of been plugged by some Harvard or MIT PHD's sitting in front of cray computers at your local hedge fund shop. Or probably by the thousands of ET traders looking for chart patterns with trendlines drawn on there 1,2,5,10,15,30,60 min charts.
There are no little edges or holes that exist in intraday futures movements... maybe when Buzzy (marty) Shwartz trading them in the 80's there were when his friends use to go eat deli sandwiches for lunch at the exchanges... but in todays ES/NQ market everyone is chasing the same thing.
Weeeeelllll,
That is probably going too far. But I agree that the "holes" are really really tough to find. I am pretty sure I found one, and inspite of that in order to take advantage of it I need to take a ton of risk.
What people don't understand is that trading ES/NQ/YM is as volatile as if you were to stack four crazy NAZ stocks on top of each other from 98-99 and pretended it was one stock - you will be seperated from your money fast if you don't know what you are doing.
nitro
Your not being rude. This is a tough game. I've been through ups and downs myself. I've made close to a million and lost close to a million (this was within a few years). I know what its about. Also I'm not saying I will do it, only time will time.
ozzy
edit: this event did not happen during the tech boom.
It's interesting to note that just last Summer you admitted that you were trading the IWM with a $25,000 dollar account, which basically comes out to a whole 210 shares of the Russell 2000 I-Shares . . . It's also interesting to note that you also claimed that you were trading the ES last year, but were unaware of how PIVOTS were used.
From the threads that I have searched on ET going back about 12 months, it appears to me that you are the "newbie". I'm not trying to criticize you, I'm just trying to make people aware that you are NOT the strongly capitalized "veteran" that you have claimed to be on this thread.
I could paste in some links to your previous remarks about trading using the ET Search Feature, but I will allow others to do that for themselves.
Good Luck.
I am not an expert futures or day trader by any means. I have been swing trading for a very long time. I used to heavilty swing trade the IWM in one of my accounts but stopped because it losts its smoothness as it became more liquid.
Its easy to to go back and look at every post I have made on ET and fit it into your agenda.
--MIKE
You're hilarious. You want to see real big NYSE winners, take a look at WLT, OS, MT etc. Over 300% yearly returns. Take a look through the pink sheet/bulletin board winners if you want to see serious returns. IPS, MON oh please.
Just forget it, you're completely missing the point. You look after the fact, only newbies do that. So if you got into MON exactly a year ago, you would not have been chopped out? Stock went from 35 to almost 30? Oh ok, so you take a 5 point stop loss. Hmm ok so from 35 to 60 makes only 5 wrong trades. Throw in slippage and some unexpected news and there you go. You act as if all your entries into the right stocks will be so perfect that you can easily sit through with a tight stop loss. You also act as if your exits will be near the top. Oh yeah, let's not forget that capital is NEVER tied up while you are sitting in the wrong stocks before you get stopped out. Get real.
Your threads from a year ago are enough to see how much of a great swing trader you really are. Do yourself a favor, sit to some big traders and take note of their losses & their swings. High reward requires high risk, otherwise it would just be too easy. Read some Soros, he mentions on several occasions that to make it big as a speculator you have to take heavy risks. Can't take the heat, get out of the kitchen. Strict small losses is the rule of consistent day to day scalpers looking for a steady living & grinding it out. Even then, the losses & commissions can eat you up, just like the numerous newbies that get eaten up by prop firms while generating nonstop revenues.
I'm done with this thread cause it's pointless. To make you feel better, you're completely right and I'm totally wrong.